Trading from home insight!!

I want to add my own experience of all that.
I met trading because i studied financial markets in Europe, and worked a little in portofolio management in a bank. But pure trading is what i already wanted to do.
So i discovered FOREX by a friend, with metatrader 4, and started learning alone, with books, forums, and practicing. I met someone that was interested too in trading, and studied financial markets too, and we set a trading office, but reality showed us that trading is not for everyone. we used to analyze markets together, and take trading decisions, but it was like, if i say don't take this trade, and he was sure of his feelings, he takes the trade anyway. We ended up loosing our capital and much more, because greed, fear, and lack of knowledge was part of our minds. I was thinking that the fact that i have a diploma(master) in financial markets studies gives me an edge to be a trader. so i rudly learned that trading is a mix of knowledge, psychology, and good tools of trading.
I started learning again, reading, seeking the edge, the holy grail. i bought many indicators, downloaded many free Experts advisors(Trading bots), bought softwares to build strategies, etc etc. All that failed. The thing that got me mad sometimes is when i see successful forex traders. I asked myself, how can i succed like them? The other problem is that i didn't succed to get a job because my master diploma is almost considered like alien stuff where i live. SO, no job and no success in what you studied very hard. How can you live?
Seeking for the holy grail, i started to use less indicators in my trading, learning to trade price action, and that was the beginning of my successful carrer. i started to understand how price works, flows,reacts and how i can profit from that. But price action needs to be traded in big timeframes, as daily timeframes, and i'm young and in my mind, i want all now, and early. So i started to discipline my mind, be more quiet, be less greedy, no overtrading again, and choosing only A+ setups.
That was the beginning, and i found some edges when i moved to another trading software, that really suits my mind as a trader. i found that tools are your friend, because i was able to have in front of me, all i want quickly, and in the best way. So i leaved metatrader, and its lack of transparency,tools, and orders types. I worked a long time to understand the tools, and to understand the market, and most of all, to peace my mind when i'm trading. I demo traded, very successfuly with my new trading strategy and i think mistakes i made in the past can't affect me today in a large scale. After all that i was seeking for a descent starting capital, because this is also important. many of the mistakes i made was because my starting balance was too low, hundreds of dollars. if you have a good starting capital when you go live, you can let your profits run, you can take losses easily because it doesn't affect your balance too much, ad you can easily accept you are wrong on a trade, and go to another one. And most of all, you can trade with good lots, and if your money management is good, and that you make at least 51% of winning trades, you are successful. With my strategy, i can make at least 80% of successful trades, on 15mn,30mn,1H timeframes, and more that 90% on 4h and daily timeframes.
Now I got a descent starting capital, and should start live trading again next monday, and i wish myself the best of luck. I builded up a complete trading desk with 4main screens,one laptop and a tablet, funded my account, developped a big trading strategy that allows me to get in the market very confident, because i use 2 great indicators, price action, news forecast, an audio squawk etc...
I'm more confident now, and think success is on its way.
So Allow me to give advice to anyone that wants to be a home trader:
-Be sure to have the good tools(software, feeds, real time information)
-Be sure to be enough confident and enough successful demo trading before going live.
-Always seek for better stuff, to get yourself up in knowledge.
-Discipline yourself, and take the home trading seriously; it's a real job!
I'll let you know how it works for me in live.

Good luck everyone
 
I want to add my own experience of all that.
I met trading because i studied financial markets in Europe, and worked a little in portofolio management in a bank. But pure trading is what i already wanted to do.
So i discovered FOREX by a friend, with metatrader 4, and started learning alone, with books, forums, and practicing. I met someone that was interested too in trading, and studied financial markets too, and we set a trading office, but reality showed us that trading is not for everyone. we used to analyze markets together, and take trading decisions, but it was like, if i say don't take this trade, and he was sure of his feelings, he takes the trade anyway. We ended up loosing our capital and much more, because greed, fear, and lack of knowledge was part of our minds. I was thinking that the fact that i have a diploma(master) in financial markets studies gives me an edge to be a trader. so i rudly learned that trading is a mix of knowledge, psychology, and good tools of trading.
I started learning again, reading, seeking the edge, the holy grail. i bought many indicators, downloaded many free Experts advisors(Trading bots), bought softwares to build strategies, etc etc. All that failed. The thing that got me mad sometimes is when i see successful forex traders. I asked myself, how can i succed like them? The other problem is that i didn't succed to get a job because my master diploma is almost considered like alien stuff where i live. SO, no job and no success in what you studied very hard. How can you live?
Seeking for the holy grail, i started to use less indicators in my trading, learning to trade price action, and that was the beginning of my successful carrer. i started to understand how price works, flows,reacts and how i can profit from that. But price action needs to be traded in big timeframes, as daily timeframes, and i'm young and in my mind, i want all now, and early. So i started to discipline my mind, be more quiet, be less greedy, no overtrading again, and choosing only A+ setups.
That was the beginning, and i found some edges when i moved to another trading software, that really suits my mind as a trader. i found that tools are your friend, because i was able to have in front of me, all i want quickly, and in the best way. So i leaved metatrader, and its lack of transparency,tools, and orders types. I worked a long time to understand the tools, and to understand the market, and most of all, to peace my mind when i'm trading. I demo traded, very successfuly with my new trading strategy and i think mistakes i made in the past can't affect me today in a large scale. After all that i was seeking for a descent starting capital, because this is also important. many of the mistakes i made was because my starting balance was too low, hundreds of dollars. if you have a good starting capital when you go live, you can let your profits run, you can take losses easily because it doesn't affect your balance too much, ad you can easily accept you are wrong on a trade, and go to another one. And most of all, you can trade with good lots, and if your money management is good, and that you make at least 51% of winning trades, you are successful. With my strategy, i can make at least 80% of successful trades, on 15mn,30mn,1H timeframes, and more that 90% on 4h and daily timeframes.
Now I got a descent starting capital, and should start live trading again next monday, and i wish myself the best of luck. I builded up a complete trading desk with 4main screens,one laptop and a tablet, funded my account, developped a big trading strategy that allows me to get in the market very confident, because i use 2 great indicators, price action, news forecast, an audio squawk etc...
I'm more confident now, and think success is on its way.
So Allow me to give advice to anyone that wants to be a home trader:
-Be sure to have the good tools(software, feeds, real time information)
-Be sure to be enough confident and enough successful demo trading before going live.
-Always seek for better stuff, to get yourself up in knowledge.
-Discipline yourself, and take the home trading seriously; it's a real job!
I'll let you know how it works for me in live.

Good luck everyone

Fingers crossed then ?
If you haven't lost the lot at least once you probably aren't trying hard enough.

:)
 
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No fingers crossed, it's no more a matter of chance for me, ;) because even if it's not the holy grail, what i got and what i'm now is better than before.
You're right if someone hasn't lost the lot, he isn't trying hard enough.
Thanks
 
I traded from home for more than 5 years before becoming profitable, but opening a trading floor local to me made things easier for me to succeed, its very much a personal achievement.
 
I traded from home for more than 5 years before becoming profitable, but opening a trading floor local to me made things easier for me to succeed, its very much a personal achievement.


Sounds interesting. Perhaps you would care to share some more details ? Like

1.how many members ?
2. membership rules and fees ?
3. what equipment do you provide ?
 
Trading From Home Insight

Hi all,

I was wondering if some of the more senior/successful home traders among you would be willing to share your stories with us. For example, how long it took before you knew you could trade successfully from home and were able to leave the rat race, any problems with the transition from 9-5 life to trading from home, a typical day for you, pros/cons of your new lifestyle etc etc

I just thought it might make an interesting thread!
Hi Ton22

Thank you for your response to my post to you Regarding Trading from Home insight.

We have 3 membership levels, The first is where you bring your own Laptop and get a computer screen which we will attach for £240pcm, Advanced trader package which is £350pcm, which is a 3 screen package and has its own computer provided by us, the professional package with is a 4 screen package again with its own computer and is £500 pcm. We have 9 members at the moment. I set up the trading floors just over a year ago. We have a detailed membership profile on our website, so you may want to look at that for a more detailed answer, ranging from traders who learnt to trade with us to retired professional traders from the city. There is no upfront costs only a monthly membership and we require just 1 months notice should you wish to leave the trading floors.

We have bloomberg and squawk and news reports and also provide the Financial Times.
Hi I am looking for Traders to join us for an Open evening at our Trading Floors in February 2014 or if you would like to see us before contact us.:)



Please fill free to ask as many questions as you want.

Andy
 
Sounds interesting. Perhaps you would care to share some more details ? Like

1.how many members ?
2. membership rules and fees ?
3. what equipment do you provide ?

Hi Ton22

Thank you for your response to my post to you Regarding Trading from Home insight.

We have 3 membership levels, The first is where you bring your own Laptop and get a computer screen which we will attach for £240pcm, Advanced trader package which is £350pcm, which is a 3 screen package and has its own computer provided by us, the professional package with is a 4 screen package again with its own computer and is £500 pcm. We have 9 members at the moment. I set up the trading floors just over a year ago. We have a detailed membership profile on our website, so you may want to look at that for a more detailed answer, ranging from traders who learnt to trade with us to retired professional traders from the city. There is no upfront costs only a monthly membership and we require just 1 months notice should you wish to leave the trading floors.

We have bloomberg and squawk and news reports.

Please fill free to ask as many questions as you want.

Andy
 
I still think nothing beats one's own comfy chair + a beer + home comforts for a really relaxing trading day and all for free. If you are such a ninny you need someone to hold your hand etc. it costs a fortune ( see above ).

Horses for courses though
 
Its not the ninny bit about having to have your hand held. When you are member of a trading floor your knowledge base continually grows at a faster rate as you have other traders to bounce ideas between. It is also nice to have work colleagues. The most productive action you can take as a trader is to interact with other traders. Many traders who trade at home cease trading due to lack of inspiration, loneliness and multiple distractions. They become boring people with no friends. Membership to a trading floor provides a great atmosphere in which to trade. The cost is cheep, membership starts from only £240.00 pcm and if you think that is expensive you have to ask yourself if you should be trading. From the point of view of a professional trader £240.00 pcm is a very small price to pay for so many benefits. As you say 'Horses for Courses' but its far more fun than sitting at home like Scotty no mates!
 
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Hi everyone,

My path to a full time trading was extremely long: 10 years. I was 23 when finished a decent trading course and made my first buck to cover a decent life and went parting....then my laziness took off, trading is veeeeeeery hard job and I discovered that I can squeeze money from sponsor organisations for my MSc, research...etc. those days nobody really checked whether you are attending uni or doing your research so I kept partying until eventually I got tired of it and found a job. Working 9-5 made me feel depressed cos people are stupid, lazy or ignorant with a little exception. So the trading seemed the only option as with age I started appreciating the intellectual and mental challenge trading has got like no other business! And you are your own boss! So I kicked myself in a butt this September and finally started trading. I funded all the money I got that way I discipline myself to work every single day ( I'm a day trader). I don't feel pressure at all though had some issues being excited a lot but frankly it's gone after I had a couple of losing days in a raw so I'm balanced emotionally now. I'm doing ok ago cover my living in London ( though I'm travelling now). But again it's a seriously hard job every time I do preparations I win every time I act on emotions I lose. So there is def NO short cuts and no holy grail. Cos the environment is constantly changing and you are changing yourself: today you learn by trading and watching the market every single day, tomorrow you would have to take a break to come back to profitable trading.
I agree though it can be a lonely place. I now enjoy visiting my folks. they don't distract me when I work but just human presence makes me feel nice rather then sitting alone in my apartment. Also public perception is that if you are a trader you must be making a fortune lol some people say ridiculous things but it's really hard work.
 
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I just allow to tell you something about how long it takes: it took me about 5 years to become steady profitable. Till today I coached 21 people and I run my own trading room for friends of mine and people I coached. They all now have a steady up-trending equity curve. But my approach in bringing someone so far is very long term. So even with the best help, it is gonna take a lot of time (everybody who tells you less then one year is probably lying or has no clue about what exactly he is talking about) and considerable effort. Please also do understand that trading is not for everybody. I picked the people I coached very very carefully. Trading is a high performance discipline. Not everybody is gonna become a fitness cover model, and believe me: making one day a good living from trading is still way less likey. Don't wanna discourage you, just talking the truth.

Best

JT

missed this first time around ..........very good advice above...... (y)

and anyone claiming on forums to be a successful and accomplished trader after just a years experience is like leaping off a building and being alive halfway down ......we all admire the optimism, but despute the longevity of the claim.......

N
 
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Hi everyone,

My path to a full time trading was extremely long: 10 years. I was 23 when finished a decent trading course and made my first buck to cover a decent life and went parting....then my laziness took off, trading is veeeeeeery hard job and I discovered that I can squeeze money from sponsor organisations for my MSc, research...etc. those days nobody really checked whether you are attending uni or doing your research so I kept partying until eventually I got tired of it and found a job. Working 9-5 made me feel depressed cos people are stupid, lazy or ignorant with a little exception. So the trading seemed the only option as with age I started appreciating the intellectual and mental challenge trading has got like no other business! And you are your own boss! So I kicked myself in a butt this September and finally started trading. I funded all the money I got that way I discipline myself to work every single day ( I'm a day trader). I don't feel pressure at all though had some issues being excited a lot but frankly it's gone after I had a couple of losing days in a raw so I'm balanced emotionally now. I'm doing ok ago cover my living in London ( though I'm travelling now). But again it's a seriously hard job every time I do preparations I win every time I act on emotions I lose. So there is def NO short cuts and no holy grail. Cos the environment is constantly changing and you are changing yourself: today you learn by trading and watching the market every single day, tomorrow you would have to take a break to come back to profitable trading.
I agree though it can be a lonely place. I now enjoy visiting my folks. they don't distract me when I work but just human presence makes me feel nice rather then sitting alone in my apartment. Also public perception is that if you are a trader you must be making a fortune lol some people say ridiculous things but it's really hard work.

congratulations K..........again thanks for the personal insight......trading is hard ..........really hard and i am under no illusions if I finally go pro later this year

thanks
N
 
I have been watching on TV those guys in Alaska digging for gold !Makes trading from home such a plus option. Especially those diving into freezing water.

Think I will have a nice hot cuppa before relaxing back into my fav armchair !!

:eek:
 
Hi Kat88. Everything you have written above is so true. More people nee to read your post for a proper insight into the life of a trader. Happy Trading
 
Hi all,

I was wondering if some of the more senior/successful home traders among you would be willing to share your stories with us. For example, how long it took before you knew you could trade successfully from home and were able to leave the rat race, any problems with the transition from 9-5 life to trading from home, a typical day for you, pros/cons of your new lifestyle etc etc

I just thought it might make an interesting thread!

I quit my full time job in July 2013. When I was working in the corporate world, my trading performance is not consistent at the very least. There are many excellent trade opportunities that I missed. Trading at home is good, but you need to do something else as well as the boredom might make you trade just for the sake of trading, not because of good setups. It would be easy to revenge trade, so be very careful.
 
Think all this depends on how good you are at filling your day with meaningful bollox outside of trading and making the most of said bollox. I am awful at this... really bad. So I have to diversify outside of trading all day long else I'd just hang myself in the cupboard.

I'd argue it's not the healthiest thing for your mental state either. You only need to read some of the posts/journals on this forum to realise some people have completely lost their crackers from their solitary, angry existence and are just left with Roquefort and nothing to spread it on. Nobody wants to be there.
 
I'd argue it's not the healthiest thing for your mental state either. You only need to read some of the posts/journals on this forum to realise some people have completely lost their crackers from their solitary, angry existence

Do you think one can get 'normal' again? How long would it take?

My best mates dad went from being a really social person in a brilliant job, to a complete hermit/recluse. Been losing money most days for the last 7 years or so, attempting to daytrade.

I guess success would counter this in some way? The old pipe dream of waking up, trading for 2 hours and making 5k, and then going and doing something fun, or having loads of holidays from trading profits! :)

And the solitary lifestyle combined with the depression of losing money must magnify the negative thoughts and social inmpact.
 
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